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Happy 2015!
Many families with high school seniors have started and will begin to compare financial aid packages. Unfortunately, the early returns for aid now are not looking as generous as in past years. Some believe that colleges are nervous about major changes regarding federal aid and the way it is distributed. Colleges may be concerned that in future years, they may have to dig into their endowments. When financial aid letters do arrive, the different kinds of aid that make up the package can be confusing. There will be many questions, such as "What has to be repaid? What are the interest rates and terms for loans? Which items are renewable? What is the true cost with all the fees and living expenses?" And before families make their final decision, there are some critical things they need to know: What is the TOTAL Cost? Families need to look closely at the total cost of each college (tuition, room, board, fees, books, travel). They then need to subtract the amount of financial aid awarded to determine what the out of pocket expenses will be. Most schools will not include fees and living expenses on their award letters, thus the overall cost looks lower than it is. What Has to be Repaid? Families should not only worry about the total amount of their award. They need to know how much debt a student will graduate with; this should be a key factor in their assessment. So what steps should be taken? First separate out money which does not have to be paid back, like grants, scholarships, merit awards and tuition reductions. Then make sure to check the terms of each portion of the package to determine which are renewable for future years. Next, look at the work study and loans. Side note: work study is paid to you throughout the year. Compare the amount of aid that does not have to be repaid across all your colleges. Then, look at the loans as a separate amount. Appealing the Offer What? Appeal? Most families don’t realize it, but you can appeal your financial aid offer. Colleges usually reserve 10-15% of their financial aid pool for appeals. Work with our consultants, and wecan guide you on how to appeal and ask for more money. Note: Colleges will offer more money in an appeal, but it will rarely be the full amount requested. Filling the Gaps For many students, even after an appeal, there will be a gap between what they can afford and what they receive in aid. In some cases, it can mean looking at outside loans. Ask the financial aid office at your desired college for their recommendations. They may have approved lenders with good interest rates on loans. Private scholarships are another option, but be sure to check the terms of your financial aid package before accepting outside scholarship money. You are required to report all scholarship sources to your college. Also, keep in mind that private scholarships are usually just for one year vs. college-based aid which will often be renewed. Lee Academia Consultants can guide you in scholarship searches and applications. The data we will be using in this boarding school ranking is based on objective measures, which include historical acceptance rates, the average SSAT scores, average SAT and ACT scores, percentage of students attending Ivy-League universities, and even alumni endowments.
These factual data will assist parents as they search for the best private boarding school options for their families. Hopefully, these ranking can assist families when applying to top schools. There are many other great school options in America, even if they are not listed below. 1. Phillips Exeter Academy. Exeter ranks #1 for consistently having their students matriculate into the top Ivies and MIT for the past three years. They also have the highest SAT median score from their graduating class (at the 2100s) and a high SSAT average (94th percentile). 2. Phillips Academy Andover. Tied with Exeter for having the highest SSAT median at 94th percentile, Andover has one of the largest alumni endowment. Offering their students a variety of advanced placement (AP) classes, the majority of Andover's college matriculation also consists of the Ivies, Stanford and more. 3. Lawrenceville School. With high median SAT scores at 2090s, Lawrenceville is also impressive having students matriculated into the Ivies and Stanford for the past three years. Like Exeter, Lawrenceville is known for their Harness approach to teaching. 4. Groton School. With one of the highest SSAT average scores for their incoming class at 90th percentile and one of the highest SAT median scores for their graduating class in the 2080's, Groton is smaller than the aforementioned boarding schools, yet has one of the largest alumni endowments, which allow the school to provide some of the best resources for their students. 5. Middlesex School. Known for their rigorous academic program, Middlesex has high SAT averages at the 2090's. With Harvard, Columbia and Dartmouth as part of their top college matriculations, this school is considered one of the top boarding schools in the US. For boarding school or magnet school consultations and services, contact Lee Academia to find out more. This week, Lee Academia's team gathered data from 2002-2013 and created this graph on the left. We can see the increased interest in U.S Colleges/Universities as more and more International students apply and seek LAEC's High School/College/Graduate School Counseling. Lee Academia limits the number of students we work with, as we dedicate our expertise and professionalism in helping each and every one of our clients. In 2012-2013, we see a tremendous increase in our International Students (especially from China) applying to U.S. Colleges seeking our help during the Spring and early Summer term, thus limiting our availability for American students. Here are sample services that we helped our International Students with:
Now that you have your grades, test scores, activity lists and interests, where should you consider applying? We will help you find a set of schools that meet your needs. We are problem solvers and can find great options for any student, no matter what the circumstance.
Think you can’t afford college? Worried that test scores or grades don’t reflect actual abilities? Want to apply to the most elite institutions? Interested in special career paths? We can find the solution that works for you. Call us now to schedule a consultation and let us help you find best-fit colleges for you! Yes, we know the 2014-2015 Common Application will not officially be live until August 1st, however, as we have been telling our students, the essay prompts this year have not changed from last year's application.
So, rising seniors, what are you waiting for? Students can (and should!) get started on their essays now. Common Application Prompts Do you (the student) need help writing an essay that will improve your admissions odds? Contact us today! We will guide you through everything you need to know about writing a great college application essay. Writing a Compelling College Essay in 1-Day! Our 1-day course (5 hours, with 30 minute break included) will include:
Student Name, High School, Home Address, Phone Number, Email Address Credit Card Number (MC or Visa) Name on Card Expiration Date Early Registration (register before August 1 at 7pm EST): only $450 Regular Registration (begins August 2): $550 *Online courses are available, as well. Contact us for more details. Questions? Call 646.266.6084 The cost of a college education is one of the second largest financial investment next to purchasing a home. Currently, many private tuitions range between $180,000 and $250,000, and state governments have been decreasing their funding. Your financial decisions will benefit from our professional guidance.
As many students choose a college without adequate investigation and research regarding what the college has to offer them, research shows that one out of three college students leave or transfer to another college and five out of ten students require five or more years to earn a degree. Our objective assessment of the student’s needs at Lee Academia help us to use current research beyond website information to find the right “student-college fit”. Many colleges have become more selective and Lee Academia's College Consultants understand what is needed for top students to gain admissions. However, finding the right college for the average or learning differences students is just as important. Many less competitive colleges have higher drop out rates and lower graduation rates, therefore it is essential we carefully place average students in appropriate educational settings. High school counselors – both in public and private institutions – are so overwhelmed with student caseloads, federally mandated paperwork for special needs students, dealing with disciplinary situations, and scheduling courses. There is little time left for quality personal contact between counselor and the student applying to college. Guidance counselors will write a letter of recommendation, assemble a transcript, and include a student profile in the college packet – nothing more. For more information and to contact us for a consultation: click here. Today is the deadline for first-year candidates to choose among their offers of admissions, financial aid and scholarships. Congratulations to all college-bound students and hopefully, you all deposited on time.
Remember: While some colleges may offer an extension of the May 1 deadline, students need to call and/or email their admission counselor, and state the reason for the indecision, and many schools do not grant extensions. Deposits are not refundable after May 1. Also, after going through all the years of planning, researching, arguing, traveling, debating, analyzing, comparing, writing, thinking, fretting, and finishing strong, do not forget that getting accepted in to the college is FAR less important than staying in and successfully completing college. As always, we welcome your comments and questions. Feel free to email us or call us at 646-266-6084. Join us on Facebook and Twitter. Whether you are thinking about applying to the Ivy-League Institutions or your local community colleges, college research is needed. Juniors, after they have taken all their finals and exams (hopefully, their first SAT by May), should begin looking into what types of colleges they are interested in applying to based on their current school records and grades. Knowing what colleges are best suited for them is the key step before applying. Lee Academia consultants are here to help. We have done all the research for you and will continue to stay up to date with current trends and admissions that only a few are aware of. With the March Madness, and seniors finding out their college acceptances or rejections this March and April, everyone becomes stressed and anxious, even the juniors who begin to think about colleges and their future. Do not listen to the myths and gossips out there. Speak to an expert who can guide you and help you narrow down your college options and find a best-fit college for you! Early-Bird Registration for College Consultations begin this April 1st, 2014. After May 30, 2014, regular Registration begins. Consultations are year-round with College Packages for rising Juniors and Seniors beginning in July 2014 to the end of the academic year. Contact us for more information. |
Stephenie Lee
Stephenie, having been a tutor/instructor/mentor since 1996, discovered her passion and founded Lee Academia Educational Consulting, LLC. after she left the dental and medical field. She loves teaching/mentoring and counseling her students. Her passion lies in educating others and helping them pursue their educational path. Today, certified in College Counseling and with more than 10 years of experience, Stephenie and her team continues to blog about current updated educational news and events. Archives
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